Did someone ever try to adapt the S10 exhaust manifold to the TDM along with a bashplate and go the last mile in transforming the TDM into a quasi-real dual sport?
INcrease in ground clearance would be nothing short of ground-breaking (no pun intended).

Is $3800 a good price for a clean 1992 TDM with 19,000 mi on it? It comes with Kerker exhaust and stock as well.

IMHO, it's right at the top limit. It's the other stuff that'll determine whether it's worth that much. History, condition, other mods, wear items, etc. Having said that, I recently paid $4K for mine . I thought it was worth ever' penny. After all, compare it to the new BMW 800GS. I saved $10,000!

Is $3800 a good price for a clean 1992 TDM with 19,000 mi on it? It comes with Kerker exhaust and stock as well.

I bought one last fall and That's what I paid for mine. Very clean, 22k, Corbin dual, new tires, stainless exhaust.

I absolutely love it! I've been riding for 50 yrs. (that's hard to believe!) and it's my favorite all time ride, except for my BMW R80G/S. (It's down for a rebuild. Almost 100K and 24 yrs. I guess it's due!)

If it's good, jump on it. Price on an older fairly rare bike is all in condition. I've seen them for less but they were worth what they sold for. The buyer would have to put some $$ in it. If it's clean and ready to go, that's worth a lot, IMO.

This is not a for sale YET. I have a high mileage 92 TDM (65,000) that I have owned for 12 years. Highly modded with a Works performance rear shock, Hyperpro front springs and all kind of farkles. No more garage room, so it is likely the bike to go.
The problem is frame cracks. One horizontel on the frame, that I always though just a scratch on the left side near near a motor mount, and the other vertical on the inside of the same frame piece. I welded both and put an additional 4,000 miles with so sign of reoccurance.
I will disclose this info to a prospective buyer and discount the price accordingly. The question what is a fair price? I am thinking sub $2,000. The other option is just keep and further explore its offroad ability with further mods, though it would rarely get ridden.